Dollar rises on report of pickup in US growth

NEW YORK (AP) -- Data showing that the U.S. economy grew at a faster pace than expected during the third quarter pushed the dollar higher against other major currencies Friday.

The Commerce Department said the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. Economists expected it to grow 1.8 percent.

The euro fell to $1.2932 in late trading Friday from $1.2949 late Thursday. The euro is down about 1 percent against the dollar for the week

The British pound fell to $1.6099 from $1.6124.

The dollar rose to 0.9352 Swiss franc from 0.9343 Swiss franc and to 99.88 Canadian cents from 99.40 Canadian cents.